Can you really put a price tag on funny pictures of cats? Yes, yes you can. And that price is $30 million. That’s the amount of money a group of venture capitalists have pumped into Cheezburger, the company behind the Lolcats phenomenon.

Of course, we’re underselling I Can Has Cheezburger by simple calling it “funny pictures of cats.” After all, these are really, really popular funny pictures of cats. These are pictures of cats that get more than 375 million page view a month.

Foundry Group, a VC that also pumped a lot of money into Zynga (the social gaming company behind FarmVille, Mafia Wars, and the like), is leading the investment. Foundry Group’s director, Brad Field, had this to say about the deal,

In just over three years, Ben Huh and his team have amassed a treasure trove of websites that mainstream consumers love. Already challenging the online traffic of traditional media companies, Cheezburger has an opportunity to surpass the industry heavyweights to become the world’s largest humor network.”

Cheezburger also runs the sites Fail Blog, Memebase, and The Daily What.